Two-Bedroom Residential Income
New
For Sale
$465,000
717 S CHRIS COLUMBUS BOULEVARD #620, Philadelphia, PA 19147
South-facing residence with river and city views, two balconies, reserved parking, and access to extensive building amenities.
Property Size1,251 SF
Price / SF$371.70
Days on Market4
Property Features for 717 S CHRIS COLUMBUS BOULEVARD #620
General Information
Standard status
Active
Size
1,251 SF
Property subtype
Apartment
Building Details
Year Built
1995
Listing Agency:
OCF Realty LLC - Philadelphia
(215) 735-7368
Listed By:
Jacqueline M Silva · License #RS311485
(215) 694-3003
Source:
Cummingsrealtors
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 7:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of OCF Realty LLC - Philadelphia
Investment Insights
Based on property information with market context.
Unit 620 is a south-facing, near-corner residence with two bedrooms, two full bathrooms, and 1,251 square feet of living space. The interior includes hardwood flooring, custom window treatments, expansive windows, built-in storage, and two private balconies—one adjoining the living area and another serving the primary bedroom. The open kitchen features granite counters, stainless steel appliances, extensive cabinetry, and a breakfast bar. The primary suite offers a walk-in closet, custom built-ins, dual vanities, a spa tub, and a separate shower. A second bedroom, updated hall bath, dedicated foyer, full-size washer and dryer, custom closet systems, and a separate storage unit complete the layout.
The residence includes two reserved parking spaces within the security-gated indoor garage. Building amenities include a 24-hour concierge, private resident shuttle, fitness facility, heated indoor saltwater pool, hot tub, community and entertainment room, party kitchen, and terrace. The property is near Penn's Landing, the Marina, restaurants, entertainment, the ferry, and fireworks. Current tenancy extends through July 2027.
The residence includes two reserved parking spaces within the security-gated indoor garage. Building amenities include a 24-hour concierge, private resident shuttle, fitness facility, heated indoor saltwater pool, hot tub, community and entertainment room, party kitchen, and terrace. The property is near Penn's Landing, the Marina, restaurants, entertainment, the ferry, and fireworks. Current tenancy extends through July 2027.
Key Highlights
- 1,251‑square‑foot south‑facing, near‑corner residence
- Two bedrooms and two full bathrooms
- Two private balconies with river and city views
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,678
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,560
$393.6K
Cap Rate 7%
$281,114
$281.1K
Cap Rate 9%
$218,644
$218.6K
Market Conditions
NOI Build-Up for 1,251 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$38.0K $30.36/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$35.8K $28.60/SF
− OpEx
−$16.1K −$12.87/SF
NOI
$19.7K $15.73/SF
Area
Philadelphia, PA
Vacancy
5.80%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$393,560
Cap Rate 7%
$281,114
Cap Rate 9%
$218,644
Alternative Uses
Best Use
Apartment 5plus
$281.1K
$246.0K – $328.0K
NOI $19,678 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$305.0K
$266.9K – $355.8K
NOI $21,348 @ 7.0% cap · market cap 4.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,558
Businesses Nearby
Explore this area
Business Placement
Demographics for 19147, PA
41,096
Population
20,735
Households
2
Avg Household Size
36
Median Age
69%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
31,612
Density / Sq Mi
$104,190
Median Household Income
$71,905
Median Earnings
$1,679
Median Rent
$524,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - South-facing residence with river and city views, two balconies, reserved parking, and access to extensive building amenities.
Where is this residential income property located?
The property is located at 717 S CHRIS COLUMBUS BOULEVARD #620 Philadelphia, PA.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 1,251‑square‑foot south‑facing, near‑corner residence; Two bedrooms and two full bathrooms; Two private balconies with river and city views
